The "three Characters" in The Play
A trust generally involves three "persons" in its creation and administration: (A) a settlor or grantor who creates the trust; (B) a trustee who administers and manages the trust and its assets; and (C) a beneficiary who receives the benefit of the administered property in the trust. In many instances where a revocable living trust is involved, one person can serve as grantor, trustee and beneficiary simultaneously until they die. In many other instances, especially after the death of the initial grantor, there will be different persons named to be trustee(s) or beneficiary(ies). There can be more than one of any of these "persons" in a trust at any one time.
Read more about this topic: United States Trust Law
Famous quotes containing the words characters and/or play:
“The business of a novelist is, in my opinion, to create characters first and foremost, and then to set them in the snarl of the human currents of his time, so that there results an accurate permanent record of a phase of human history.”
—John Dos Passos (1896–1970)
“What the hell is nostalgia doing in a science-fiction film? With the whole universe and all the future to play in, Lucas took his marvelous toys and crawled under the fringed cloth on the parlor table, back into a nice safe hideyhole, along with Flash Gordon and the Cowardly Lion and Luck Skywalker and the Flying Aces and the Hitler Jugend. If there’s a message there, I don’t think I want to hear it.”
—Ursula K. Le Guin (b. 1929)